Investor-State Dispute Settlement Mechanisms under the Trans-Pacific Partnership Agreement—Comparison between the ICSID Procedures and UNCITRAL Arbitration Rules

Investor-State Dispute Settlement Mechanisms under the Trans-Pacific Partnership Agreement—Comparison between the ICSID Procedures and UNCITRAL Arbitration Rules

 

Title
Investor-State Dispute Settlement Mechanisms under the Trans-Pacific Partnership Agreement—Comparison between the ICSID Procedures and UNCITRAL Arbitration Rules
Author
Chi-Chung Kao
Keywords
TPP, ISDS, ICSID Convention, ICSID, UNCITRAL Arbitration
Rules
Abstract
In light of the growth in regional economy integration, Taiwan has endeavored
to participate in FTAs such as the TPP. The investment chapter of the TPP includes
not only provisions of substantive treatments towards investment, but also
ISDS mechanisms. Should a dispute arise, an investor will be allowed to request
for arbitration against a host state in accordance with ICSID Convention art. 25(1)
or ICSID Additional Facility Rules, or alternatively commence arbitral proceedings under the UNCITRAL Arbitration Rules. These three arbitration procedures share
the same principle of party autonomy, but are differently designed in various detailed
aspects, such as the composition of the tribunal, the mechanisms promoting
procedural efficiency, the prevention of frivolous claims, transparency in arbitral
proceedings, and most importantly, the enforcement of and remedy against the
awards. Once Taiwan joins the TPP, it is necessary to understand such procedures.
Abstract Article

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